As we approach the end of 2017, it’s a good time to review one’s personal financial objectives, current and proposed tax changes, and deadlines. This is especially true for those with private corporations due to the Department of Finance’s summer announcement of tax proposals targeting tax planning using private corporations, which may come into effect in 2018. There is a sense of urgency concerning these changes and how to best address them before 2018. Furthermore, there are other tax planning opportunities and deadlines that can be considered on an ongoing basis.
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